Onward Technologies : Q4 FY2022-23 Financial Results

Date: May 12, 2023

To,

BSE Limited

Corporate Relations Department

P J Towers, Dalal Street

Mumbai 400 001

National Stock Exchange of India Ltd., Exchange Plaza, 5th Floor,

Plot No. C/1, G Block,

Bandra-Kurla Complex,

Bandra (East),

Mumbai - 400 051.

Ref: Scrip Code - BSE: 517536 NSE: ONWARDTEC

Subject: Outcome of Board Meeting held on May 12, 2023, at 12.00 Noon (Meeting concluded at 1.30 P.M.)

Dear Sir,

The Board of Directors of the Company at their meeting held today, have inter-alia, approved the following:

1. Audited Financial Results

a. Consolidated and Standalone Audited Financial Results:

Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), the Board of Directors of the Company have approved and taken on record, audited standalone financial results of the Company and audited consolidated financial results of the Company and its subsidiaries for the quarter and year ended March 31, 2023.

We hereby further inform that pursuant to Regulation 33(3)(d) of the SEB[ (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No CIR/ CFO /CMD/56/2016 dated May 27, 2016, we hereby declare and confirm that the Statutory Auditors of the Company viz. M/s. BSR & Co., LLP , Chartered Accountants, have expressed an Unmodified opinion in respect of Audited Standalone AND Consolidated Financial results for the Quarter and year ended on March 31, 2023.

2. Recommendation of Dividend

Recommended payment of final Dividend of Rs.3 (Rupees Three only) per equity share having face value of Rs. 10/- each for the financial year ended March 31, 2023, subject to approval of the shareholder's at the ensuing 32nd Annual General Meeting (AGM). The cut-off date and record dates will be follow separately.

Regd. address. : 2nd floor, Sterling Centre, Dr. A.B. Road, Worli, Mumbai 400018. Tel: [phone]

CIN: L28920MH1991PLC062542 | email:[e-mail]| website:www.onwardgroup.com

Mumbai | Pune | Chennai | Bengaluru | Hyderabad | Chicago | Detroit | Cleveland | London | Frankfurt | Amsterdam | Toronto

1. Convening of 32nd Annual General Meeting
   Convening of 32nd Annual General Meeting of the Company on Monday, July 17, 2023, at through video conferencing or audio-visual conferencing. The notice and necessary instructions to attend the meeting to be followed separately.
2. Appointment of Directors:
   Appointment of Mr. Dhanpal Arvind Jhaveri (DIN: 02018124) and Mr. Jai Shishir Diwanji (00910410) as an Additional Director, Independent (Non-Executive) in the Company w.e.f. May 12, 2023
3. Completion of Tenure of Directors:
   The Company is honoured to congratulate Mr. Parish Meghani and Mr. Rahul Rathi for completing their 2 terms with the Company at the upcoming Annual General Meeting. We hereby take an opportunity to express our gratitude towards the contribution and guidance they have made to the Company.
4. Appointment Chief Financial Officer of the Company.

Appointment of Mr Pawan Nathani as Chief Financial Officer and Key Managerial personnel of the Company w.e.f. May 12, 2023, as recommended by Nomination and Remuneration Committee and based on approval of Audit Committee of the Company.

Kindly acknowledge the receipt of the same.

For Onward Technologies Limited

Shama Pawar

Company Secretary

Regd. address. : 2nd floor, Sterling Centre, Dr. A.B. Road, Worli, Mumbai 400018. Tel: [phone]

CIN: L28920MH1991PLC062542 | email:[e-mail]| website:www.onwardgroup.com

Mumbai | Pune | Chennai | Bengaluru | Hyderabad | Chicago | Detroit | Cleveland | London | Frankfurt | Amsterdam | Toronto